Committee on Financial Services - mars-4:hrs04F_S2128_090506 - Rayburn 2128 - Legislative Solutions for Preventing Loan Modification and Foreclosure Rescue Fraud - Insurance, Housing, and Community Opportunity Subcommittee.Today's hearing will help identify legislative solutions to put an end to loan modification and foreclosure rescue fraud. These scam artists portray themselves as foreclosure consultants, and offer to rescue or help struggling homeowners stay in their homes through aggressive marketing campaigns. For a fee, these individuals or entities promise to help save homes from foreclosure, but either charge an excessive fee for services that can be obtained for free by a qualified nonprofit counseling agency, or deliver little or nothing for the money received.

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